Depreciation

a. allocates the cost of an asset over its useful life

b. assures that assets are reported at fair market value

c. is discretionary for many firms

d. is the responsibility of the department using the asset

At one time, sea lions were depleting the stock of steelhead trout. One idea to scare sea lions away from the Washington coast was to launch fake killer whales, which are predators of sea lions.

Phoenix water is provided to approximately 1.43 million people, who are served through more than 362000 accounts. All accounts are metered and billed monthly. The probability that an account has an error in a month is 0.

Orton corporation, which has a calendar year accounting period, purchased a new machine for $80,000 on april 1, 2013. at that time orton expected to use the machine for nine years and then sell it for $8,000. the machine was sold for $44,000 on sept.

Maria Am Corporation uses a process costing system. The Baking Department is one of the processing departments in its strudel manufacturing facility.

Why is the U. S. economy sometimes referred to as a modified free enterprise system?

A consulting firm has a predetermined overhead rate of $120 per labor hour. The Smith job required 5 hours to compete. The overhead cost applied to this job is $

Loren and Kendra enter into a contract for the distribution of Loren's produce to local restaurants for which he agrees to pay Kendra. Kendra transfers her right to payment under the contract to County Bank. This transfer is a. an alienation b.

Clara, at age 47, decided to adopt a child on her own because she tired of waiting around for "mr. Right" to come along. She decided to move on with her life. Clara is an example of a (n) :

Sandusky Company borrowed $28,000 from the Lakeside Bank by issuing a 10% three-year installment note. Sandusky agreed to repay the principal and interest by making annual payments in the amount of $11,259.21.

Some discount stores put products in large bins and let consumers hunt and find bargains. The price these consumers pay includes: a. the time the product was full price and didn't sell b. the value of their time and energy c.